Alexander Grierson, head of asset recovery, said: “Javid Akhtar deliberately exploited a scheme designed to help genuine businesses survive the pandemic.
“This order means Akhtar does not benefit from his dishonesty. He must now repay every penny of the money he fraudulently obtained.”
During interviews with the Insolvency Service, Akhtar said his business had been “booming”, but rather than citing the £400,000 turnover figured listed in his application for the loan, he mentioned £200,000 and £300,000 instead.
He told the service the form had been completed on his instruction by the company’s accountant.
He also failed to hand over adequate accounting records to the liquidator when Natasha Motors Ltd went into liquidation in April 2021.
The government agency’s investigation later found Akhtar owned enough assets to repay the loan, including three cars and a solar panel investment worth more than £150,000.
Akhtar was disqualified as a company director in August 2023 for his failure to deliver adequate accounting records.
His six-year ban runs until August 2029.
